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RESOLUTION NO. 20-1176 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON, <br /> ADOPTING THE MID-TERM OPERATING BUDGET FOR FY 2020/21 <br /> WHEREAS, the City adopted a Two-Year Operating Budget on June 18, 2019; and <br /> WHEREAS, it is beneficial to review the Two-Year Operating Budget to refine revenue <br /> projections and expenditures; and <br /> WHEREAS, at a public hearing on June 2, 2020, staff presented a report detailing the <br /> recommended Mid-Term Operating Budget for FY 2020/21. <br /> NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br /> PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br /> SECTION 1: Adopts the Mid-Term Operating Budget for FY 2020/21 as presented. <br /> SECTION 2: Authorizes expenditures, transfers and expenditures as detailed in the Mid- <br /> Term Operating Budget for FY 2020/21. <br /> SECTION 3: Authorizes the creation of a Rainy Day Fund under the Special Revenue <br /> Fund category with a $5 million transfer from the General Fund. The Rainy Day Fund can be used <br /> to help balance the General Fund budget in the event actual revenues are less than budgeted. <br /> SECTION 4: This resolution shall become effective immediately upon its passage and <br /> adoption. <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on June 16, 2020. <br /> I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing <br /> resolution was adopted by the City Council at a regular meeting held on the 16th day of June, <br /> 2020, by the following vote: <br /> Ayes: Councilmembers Brown, Narum, Pentin, Testa, Mayor Thorne <br /> Noes: None <br /> Absent: None <br /> Abstain: None <br /> n <br /> Karen iaz, City C rk <br /> AAPPROVEDA S 0 FORM: <br /> 4quid <br /> Daniel G. Sodergren, ity Attorney <br />